Procedure for Notification and Application for Indemnification Clause Example from Business Contracts

Procedure for Notification and Application for Indemnification. (a) Indemnitee agrees to notify promptly the Corporation in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or hold harmless rights, or advancement of Expenses covered hereunder. The written notification shall include a description of the nature of the Proceeding and the facts underlying the Proceeding. The failure of Indemnitee to so notify the Corpor...ation shall not relieve the Corporation of any obligation which it may have to the Indemnitee under this Agreement, or otherwise. (b) To obtain indemnification under this Agreement, Indemnitee shall deliver to the Corporation a written application to indemnify and hold harmless Indemnitee. Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his or her sole discretion. Following such a written application for indemnification by Indemnitee, the Indemnitee's entitlement to indemnification shall be determined according to Section 12(a) of this Agreement. View More